Archived Story

PNC to close Colerain location

Published 9:12am Tuesday, March 26, 2013

COLERAIN – PNC Bank’s Colerain location will close its doors in May.

According to Amy Vargo, a spokesperson for PNC, the bank is scheduled to permanently close at 3 p.m. on Friday, May 17.

Vargo said PNC is continuously evaluating their branch network.

“From time to time those evaluations result in closing a branch and even opening one,” she said.

She added the bank strives to meet customers’ demands regarding banking with technology (i.e. online, mobile).

The bank, located at 113 S. Main Street, employs four people. Vargo said she couldn’t speak to what would happen to those four employees.

“We do our very best to relocate them,” she said.

Vargo said all accounts will be consolidated into the Ahoskie branch.

A bank in Colerain has been present for at least 66 years. Long time resident Bill Fowler remembers the very first bank, the Bank of Coleraine, already being open when he moved there in 1947.

Colerain Mayor Burney Baker said that financial institution later became Planters Bank and then purchased by RBC Centura before becoming PNC.

Baker agreed the community would be hit by the closing of PNC.

“It’s going to be hard to attract other businesses with no bank in town,” he said. “We’re struggling just like any other small town.”

The town has made an effort to court other banks into coming to town. Baker said he has spoken to a few banks and there were some interested in opening a facility in Colerain.

However, he added, typically when banks close and the building is sold or leased there is typically a clause not allowing another bank to open in the same building.

“That’s what we’re afraid will happen with this,” he said. “The town has written a letter to PNC asking them to allow another bank to open in that location.”

He added that is ultimately a business decision to be decided upon by PNC officials.

Letters regarding how customers should handle their banking affairs have been sent out to those impacted by the closing.

Vargo suggested if Colerain PNC customers had questions concerning the change they should direct them to branch employees.

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